The three will receive financial and non-financial incentives totalling $41 million to expand their operations in Abu Dhabi and tap the emirate’s innovation ecosystem and reliable infrastructure
NEW DELHI: The Abu Dhabi Investment Office (ADIO) has put in $41 million in fresh meat and fish e-tailer FreshtoHome and two agritech companies--Pure Harvest and Nanoracks--to develop cutting-edge projects in Abu Dhabi with the intent to boost the emirate’s Agriculture Technology (AgTech) capabilities.
The three will receive financial and non-financial incentives totalling the said amount to expand their operations in Abu Dhabi and tap the emirate’s innovation ecosystem and reliable infrastructure, enabling regulations to drive cutting-edge innovation across the entire agriculture value chain.
The partnerships are a continuation of ADIO’s efforts to accelerate growth of Abu Dhabi’s AgTech ecosystem through the AgTech Incentive Programme.
Bangalore-based FreshToHome will invest in next generation aquaculture and agriculture solutions aimed at supporting food production in arid and desert climates.
“At FreshToHome, we use cutting-edge research in AI and precision aquaculture for furthering food security in a sustainable manner while also giving better value to consumers, fishermen and farmers. To this end, we intend to bring our US patent pending AI-powered Virtual Commodities Exchange technology, our e-grocery platform and our nano farm aquaculture technology to Abu Dhabi, enhancing food production and distribution for the region," said Shan Kadavil, CEO and Co-Founder of FreshToHome.
In October, FreshToHome had announced raising $121 million, in a Series C funding led by Investment Corp. of Dubai (ICD), the principal investment arm of the government of Dubai.